Bitcoin and Ethereum suffer a crash, but the support continues

The central theses

• The overall capitalization of the cryptocurrency market suffered a break -in after Bitcoin had fallen yesterday.
• The sudden sale was felt on the market with almost every cryptocurrency.
• Bitcoin and Ethereum continue to stay above the support and offer a ambiguous outlook.

Bitcoin and Ethereum have suffered significant losses in addition to most old coins on the market in the past 24 hours. However, both assets stay above a decisive support barrier that could protect them from a stronger decline.

The cryptoma markets bleed

The two leading cryptocurrencies sit on the support despite the recent burglary.

More than $ 300 billion have been wiped out Preserver-Spaces = "True"> of the entire cryptocurrency marketing capitalization in the last 24 hours. The sudden crash creates Almost 3.5 billion US dollars of liquidations worth long and short positions on a broad front.

Almost every digital asset in the blockchain area suffered from the sale. Even the stable coins fell by about 0.54% for a short time and sent investors in Fear .

Only a few old coins were traded in the green, including, and.

Bitcoin shakes weak hands from

The leading cryptocurrency was one of the many digital assets that could not last. Bitcoin lost over 10,000 points within a few hours and rose from a maximum of $ 52,900 to a low of $ 42,600.

Although the prices have recovered over $ 46,000, the outlook remains uncertain.

The daily chart of Bitcoin shows that it sits on a support cluster that extends from $ 45,800 to $ 42,500. The sliding 200 and 50-day average and the Fibonacci retracement level of 50 % and 61.8 % are within this price range. This significant support barrier could prevent a further decline in price due to the extent of the latest downturn.

As long as the demand wall of $ 45,800 to $ 42,500 lasts, Bitcoin can act sideways until its next major price movement. A candlelight over the resistance mark of $ 51,000 could signal the resumption of the upward trend, while a persistent decline below $ 42,500 could lead to a correction towards $ 36,500.

Ethereum of key support held

similar to Bitcoin experienced an ethereum a dive of 23.3%, which was limited by the sliding 50-day average of $ 3,000.

The downward impulse was anticipated by the Tom Demark (TD) sequential indicator, which was a sales signal on the daily chart. The declining formation indicates one to four daily candlestick retracement before the upward trend is resumed.

The ETH can have more space based on the TD setup. Nevertheless, the demand for demand between 3,000 and $ 2,700 can have the strength to prevent a further price decline. Bears would search for a decisive daily candlestick closing below this level of support to strive for $ 2,300 or even USD 1,700.

On the other hand, Ethereum would have to regain $ 3,750 as support in order to signal the continuation of the upward trend. At this level, the second largest cryptocurrency after market capitalization could possibly attract more buyers for the last thrust on the all -time high of USD $ 4,380 or a new milestone of $ 5,000.

In view of the uncertainty that the recent sale has generated, investors have to wait for a continued closing course above the resistance to avoid further risks. Since both Bitcoin and Ethereum are on the threshold of mainstream acceptance, investors can benefit from the fact that capital is available in the event of an outbreak or burglary.